Global technology firm HCLTech on Monday announced a 10.5% year-on-year (YoY) rise in net profit, reaching Rs 4,235 crore for the July-September quarter of FY25. However, on a quarter-on-quarter (QoQ) basis, the net profit dipped slightly by 0.5%. The company’s revenue from operations surged to Rs 28,862 crore, marking an 8.2% increase compared to the […]
Shares of Ola Electric fell nearly 3% on Monday, marking the third straight session of decline, as the company faces scrutiny over its pricing practices. The Automotive Research Association of India (ARAI), under the Ministry of Heavy Industries, has asked the electric vehicle (EV) manufacturer to clarify recent price cuts on its S1 X 2 […]
![Nobel Economics Prize 2024 Goes to Daron Acemoglu, Simon Johnson, and James A. Robinson [Details]](https://i0.wp.com/indiainternationaltimes.com/wp-content/uploads/2024/10/nb1.jpg?fit=618%2C367&ssl=1 "Nobel Economics Prize 2024 Goes to Daron Acemoglu, Simon Johnson, and James A. Robinson [Details]")
The Royal Swedish Academy of Sciences announced today that Daron Acemoglu, Simon Johnson, and James A. Robinson have been awarded the 2024 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. The prestigious prize recognizes their significant contributions to understanding how institutions are formed and their impact on national prosperity. This year’s award […]
India’s real estate sector achieved an unprecedented milestone in the July-September quarter (Q3), with 25 deals valued at $1.3 billion, according to a report by Grant Thornton Bharat released on Monday. This marks the highest number of deals ever recorded in the sector and the second-highest total value since Q2 2023. The surge in deal […]
India’s wholesale price inflation (WPI) climbed to 1.84% in September, driven primarily by rising prices of food articles and select manufacturing sectors, according to government data released on Monday. The inflation rate in September marked an increase from 1.31% in August and 2.04% in July. The month-over-month change in the WPI index was a modest […]
The increasing use of artificial intelligence (AI) and machine learning (ML) in the global financial sector could pose significant risks to financial stability if not properly managed, according to Shaktikanta Das, the Governor of the Reserve Bank of India (RBI). Speaking at an event in New Delhi on Monday, Das emphasized the need for banks […]
The Indian rupee hit a record low against the U.S. dollar on Monday, driven by persistent demand for the dollar and continued outflows from Indian equities. The rupee dropped to an all-time low of 84.0725 against the U.S. dollar, surpassing the previous low of 84.07 recorded last Friday. This downward trend is attributed to foreign […]
Notwithstanding last week’s erosion of Rs.1 lakh in market value, Indian stock markets are expected to navigate a crucial week ahead, with domestic and global economic indicators, especially Israeli-centric moves, taking center stage. Key drivers for market movements include India’s Wholesale Price Index (WPI) inflation and Consumer Price Index (CPI) inflation data for September, as well […]
The combined market capitalisation of seven out of the top 10 companies declined by Rs 1,22,107 crore over the past week, with Tata Consultancy Services (TCS) and Reliance Industries Ltd (RIL) leading the losses. Between October 7 and 11, Tata Group’s TCS saw its market cap drop by Rs 35,638 crore, settling at Rs 15,01,723 […]
In a shocking news, NCP (Ajit Pawar) leader from Maharashtra Baba Siidqui known for his annual Iftaar parties for celebrities in Mumbai was shot dead around midnight on Saturday. Currently, an MLC, Siddiqui was shot dead by three attackers in Mumbai around 9.30 pm at the office of his son, Zeeshan, who is the MLA […]
Bain Capital has outbid rival KKR with a $4 billion offer to acquire Fuji Soft, a prominent Japanese software developer, setting the stage for a rare high-stakes showdown between two private equity giants. Bain’s bid, which values Fuji Soft at 9,450 yen per share, surpasses KKR’s offer by approximately 7%, igniting a fierce contest for […]
Private equity firm Odyssey is reportedly in advanced negotiations to acquire Honeywell’s face mask unit, a potential deal valued at around $1.5 billion. This acquisition marks a strategic move by Odyssey to capitalize on the surging demand for personal protective equipment (PPE), driven by the global pandemic. The deal would be a significant milestone in […]
Novo Nordisk, the Danish pharmaceutical company known for its popular weight-loss drug Wegovy, is scaling up its operations in India to meet rising global demand. The company plans to double its senior leadership team in India and increase its total workforce by 16%, bringing its headcount to 5,000 by next year. This move underscores India’s […]
India’s ship recycling industry is poised for substantial expansion, with an expected compound annual growth rate (CAGR) of 10% by 2028, positioning it as a key player in the global market. According to a report by CareEdge Ratings, India accounted for 33% of the global gross tonnage (GT) dismantled in 2023, placing it second only […]
The World Bank has revised Bangladesh’s economic growth projection for the fiscal year 2024-25, lowering it to 4%, down from an earlier estimate of 5.2%. This adjustment comes in response to the political unrest that has shaken the country, creating significant economic and political uncertainty. In its South Asia Development Update for October 2024, the […]
India is experiencing a remarkable transformation in youth employability, with the rate rising from 33.9% in 2014 to 51.3% in 2024, driven by government-led skill development initiatives. As the country with one of the youngest populations in the world, India is harnessing its demographic dividend and positioning itself to become a global skill capital. Key […]
The Indian rupee recently reached a historic low, falling by 0.12 to trade at 84.09 against the US dollar. This decline is largely attributed to surging crude oil prices and escalating geopolitical tensions in the Middle East. The US dollar’s strength, with the dollar index rising from $100.50 to $102.40, has also added pressure on […]
As global nuclear powers continue modernizing their arsenals and tensions rise over potential use of these devastating weapons, the 2024 Nobel Peace Prize was awarded to Nihon Hidankyo, a Japanese grassroots organization of atomic bomb survivors. The group, comprised of survivors from Hiroshima and Nagasaki, has long advocated for the complete elimination of nuclear weapons. […]
India’s foreign exchange reserves remained above $700 billion for the second straight week, according to data from the Reserve Bank of India (RBI) released on Friday. As of October 4, the reserves stood at $701.18 billion, marking a decline of $3.71 billion from the previous week. India’s forex reserves, which are at an all-time high, […]
Indian equity markets closed lower on Friday, with the Sensex falling by 230 points, or 0.28%, to 81,381, and the Nifty slipping by 34 points, or 0.14%, to 24,964. The decline was primarily driven by a sell-off in financial and auto stocks, alongside weakness in shares of Tata Consultancy Services (TCS). The banking sector bore […]